On Monday the Belize Electricity Limited (BEL) made a submission to the Public Utilities Commission in which the Company requested an amendment to electricity rates to reflect the savings it has realized in the cost of power it purchases from Independent Power Producers (IPP).

This proposed amendment is aimed at passing on these savings to customers. If approved by the PUC, the amendment is expected to result in a 3.4% reduction in the Mean Electricity Rate (MER) from 43.47 cents per KWh to 42 cents per kWh for the period January 2015 to June 2015. The savings achieved are primarily due to lower than expected cost of power from Mexico’s Comisión Federal de Electricidad (CFE) during the current tariff period, which has made it possible for the Company to provide electricity to customers at a reduced rate.